Tax assessor to present 2013 reval to Finance/Claims Committee

Published 2:45 pm, Friday, November 29, 2013

NORWALK -- Many Norwalk homeowners should see their property values decrease as a result of the city's 2013 revaluation.

But your results as an individual homeowner may vary, according to Norwalk Tax Assessor Michael J. Stewart.

"If you take the whole city, I think the overall number is going to go down, in terms of total value of residential property," Stewart said. "That's not to say an individual property, whether it's because they've made improvement to their property, or their particular neighborhood has increased in value, or their value was low the last time, could increase."

Those are among the findings, which Stewart plans to present to the Common Council's Finance/Claims Committee this month. The meeting is set tentatively for the evening of Dec. 12 in the council chambers of City Hall.

Early next year, Finance/ Claims Committee members early will review revenue and spending projections in advance of recommending an expenditures cap for the city's 2014-15 operating budget.

"They're intimately involved in the budget process and the finances of the city. This (revaluation) has a material impact on what they're going to be looking at going forward," Stewart said. "We'll tell them what the reval(uation) is about. We'll talk about what property owners' options are when they get their (preliminary valuation) notices. We'll give some general indication of what the reval(uation) is globally -- not specific parcels."

When Norwalk's 2013 revaluation is complete, all assessments held by the city's Tax Assessor's Office, in theory, should reflect actual property values as of Oct. 1, 2013.

Norwalk assesses property at 70 percent of market value and revaluations are a cause for concern among homeowners. The assessments, along with mill rates, form the basis of property tax bills.

Stewart said representatives of Vision Government Solutions, Inc., the firm hired by the city to assist with the revaluation, will be part of the presentation that is being planned for Dec. 12.

Councilman Bruce I. Kimmel, Finance/Claims Committee chairman, is hopeful that residential property owners will be left hefting a smaller portion of the city's tax levy.

"I hope they lessen the property tax burden on homeowners. That's where we need a shift. Each reval(uation), I think over the years since the one under Esposito has lessened the burden on residents in certain parts of the city," Kimmel said. But "what will happen this time around, nobody really knows yet. I haven't seen the results yet."

The revaluation, for which the city budgeted $1.1 million, began last December.

Since then, Vision Government Solutions personnel have attempted to verify through field visits, technology and communication with real estate professionals property information for 29,700 residential, commercial and industrial properties in Norwalk.

Stewart reminded Wednesday that the work is not complete and that his office and Vision Government Solutions are still "crunching" the numbers.

After receiving their preliminary valuation notices, property owners will have the opportunity to meet informally with personnel from Vision Government Solutions. The city, meanwhile, will schedule meetings to explain the revaluation results on a neighborhood- by-neighborhood basis

The new valuations, as reflected in the notices being sent Dec. 2., will not be cast in stone.

In February, property owners will have the opportunity to file appeal applications with the Board of Assessment Appeals to challenge their valuations. They will have until Feb. 20 to apply, according to Stewart.